Rob, you seem to be focused on controlling each LED individually but that's not the purpose of the product. It's just a large LED lamp that can blend between warm white (576 LEDs) and cool white (another 576 LEDs). The manufacturer's product page is at http://www.litepanels.com/language/pages/onebyone_bicolor.php
lebigmac, if you use 100 multicolor LEDs you will not have twice as much light per unit of power. Multicolor LEDs are electrically identical to a pair (or three, for an RGB LED) of single color LEDs and only differ in that they're encased in a single piece of plastic. As to why they cost ten times as much is more of an economics or manufacturing question. For a panel like this, used in photography, I assume you don't need or want a smaller form factor; you want the light spread out as much as possible thus using pairs of individual LEDs at the lower price is going to be to your benefit.